Newsletters

11.21.17

OCC’s Otting Confirmed: Another Former OneWest Executive Takes Reins

On a largely party-line vote, the Senate has confirmed former OneWest president Joseph Otting as Comptroller of the Currency.


11.09.17

OCC’s Noreika Continues Conversation on Innovation, Fintechs

Acting Comptroller of the Office of the Comptroller of the Currency (OCC) Keith Noreika continued speaking out on changes in the financial services industry—and the potential for fintech charters—in recent remarks.


11.09.17

CFPB News: Supervisory Highlights, Consumer Protection Principles

In the latest roundup of Bureau of Consumer Financial Protection (CFPB or the Bureau) news, the Bureau published another edition of Supervisory Highlights, released nonbinding Consumer Protection Principles and was officially handed a defeat when President Donald Trump killed the arbitration rule.


11.09.17

Exclusion Precludes Coverage for Bank’s $24M Settlement

In a blow to a bank that settled overdraft litigation for $24 million, the U.S. Court of Appeals, Seventh Circuit affirmed that the financial institution’s liability policy did not provide coverage for the deal.


11.09.17

FTC Launches ‘Game of Loans’ Initiative

Deceptive student loan debt relief scams are the target of a new coordinated federal-state law enforcement initiative led by the Federal Trade Commission (FTC).


11.09.17

CRA Ratings Review Gets Update From OCC

In a new bulletin, the Office of the Comptroller of the Currency (OCC) outlined its updated “policy and framework for determining the effect of evidence of discriminatory or other illegal credit practices” on the Community Reinvestment Act (CRA) rating of a bank.


11.09.17

Experts Share Insights on the State of Marketplace Lending

Brian Korn, partner and co-chair of the firm’s financial services group, spoke on a panel at the First Associates Marketplace Lending Networking Breakfast on Nov. 1 in New York.


10.26.17

Multi-Plaintiff Suit Challenges CFPB’s Arbitration Rule

With no progress in Congress repealing the Consumer Financial Protection Bureau’s (CFPB or Bureau) arbitration rule, a coalition of 18 organizations filed suit in Texas federal court seeking to halt implementation of the prohibition on the use of mandatory predispute arbitration clauses.


10.26.17

Equifax Fallout Continues, Spreads Across Industry—and Pond

The fallout from the Equifax data breach continues, reaching other credit reporting companies and all the way across the Atlantic Ocean.


10.26.17

CFPB Tweaks Rules for Mortgage Servicer Communications

The Consumer Financial Protection Bureau (CFPB or Bureau) released a new interim final rule intended to clarify how mortgage servicers can communicate with borrowers at risk of foreclosure, as well as a proposed rule about bankruptcy communications.